A Blog About Personal Finance. Teach you to be rich slowly not make quick scheme. The specialties are in Financial advice and wealth.

Wednesday, January 29, 2014

How to Set Goal to make money

As the crisis lurk, people try to make more money. They want to reach wealth. The afraid that the crisis can fail their goal. To setting the goal, you can make these things:

1. Think of yourself How much money that you have today. You can also write down the asset that you have today. The asset is a fuel to make your money. For example: We can hire out the house to the tenant and receive the rent fee every month or evey year. 2. Think of the goal What is your goal? Do you want to have a house? Compute how much money that you need for the house. Let say the house price is $250,000. You should consider the interest rates too. Do you think you can reach the goal? Or, Is the goal attainable? It means you can reach the goal. 3. Plan the action to make money. where you will get the money? Do you find side jobs? Working to other place after work hours. It can generates hundred dollars. Teach the tutorial to make $70 to $ 100 per hours. If you have some experience in jobs, you will be not difficult to do that. Seek ot the ways to make money. You can start opening business. Write the business plan before starting the business. 4. Saving and investing To reach the long term goal, you may not able to reach in one or three year. You should save first the money so your money can be gathered so much. Save a hundred dollars a month. You will get more than thousands dollars in dozen years. Then, invest the money to profitable investment. The investment can grow up your money in long term. Your money might be doubled or tripled. Invest your money at Dividend Reinvestment Plan or DRIP and do not withdrawn until the time that you have set. Example, you hope the DRIP return can finance your kid education for next 17 years. 5. Life expectancy In developed country such as United States, Europe, and Japan, the life expectancy is higher than underdeveloped country. This should be consider for setting your goal. The higher life expectancy means the more money you should make. When you become older, you should have money because you do not work anymore. You might depend on your saving or your investment. It will be better when you own the business that can finance you when you become old.